JAY-Z has entered a partnership with LVMH. On Monday (Feb. 22), Moët Hennessy, the luxury conglomerate’s wine and spirits division, announced its purchase of a 50 percent stake in JAY-Z’s champagne brand Armand de Brignac, commonly known as Ace of Spades.
Famously debuted the brand in his “Show Me What You Got” music video. Prior to the partnership, the rap mogul endorsed Cristal in his music. However, an executive of Louis Roederer’s disparaging comments about hip hop led to Hov boycotting the brand. In 2014, he bought the remaining half of Armand de Brignac.
With the new partnership, Moët Hennessy CEO Philippe Schaus told CNBC’s Becky Quick that Armand de Brignac will bring new consumers to the champagne category.
“What we could bring to the brand, which is already very successful, is the sheer power of our international distribution network,” he added.
CNBC reports that Armand de Brignac sold over 500,000 bottles in 2019. Under the terms of the new deal, LVMH will take over the distribution of the champagne.
The deal arose from discussions started between Jay-Z and Alexandre Arnault, the 28-year-old son of French billionaire Bernard Arnault, LVMH’s chief executive and controlling shareholder.
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